WatchandWager’s Kentucky license approved

WEBIS HOLDINGS PLC

(“Webis”)

WatchandWager’s Kentucky license approved

ADW may now accept wagers from the Bluegrass State

The board of Webis, the Group specializing in pool wagering and the operators of Cal Expo, the Californian harness track, is pleased to announce that its Advanced Deposit Wagering (ADW) business, WatchandWager.com LLC (“WatchandWager”) received a license approval from the Kentucky Horse Racing Commission on Tuesday, December 13, with immediate effect and throughout 2017. This means the company will commence taking live registrations, deposits and wagering from residents of the State from Wednesday 14th December. The licence comes conditional on a $100,000 Bond being lodged with the Commission and this is expected to be in place early in January 2017.

With hundreds of horse farms, breeding farms, and training centers in the state’s Bluegrass Region, Kentucky is famously known as the “cradle of horse racing” in the United States. Kentucky has a population of over 4.4 million, many of them horse racing fans. WatchandWager’s presence in Kentucky began in 2013, and the company’s investment in the State expanded when it moved its telephone call center from the Isle of Man in the United Kingdom to Lexington, Ky., in 2015. WatchandWager’s Lexington office now serves as the operations center for the company. Another benefit of the license is the Duties and Fees associated with it are relatively modest compared to other larger States. This means wagers will be accepted at a higher margin to WatchandWager than in many other states.

WatchandWager President Ed Comins comments: “We are pleased to add Kentucky to the ever-expanding list of states where WatchandWager can accept wagers. Our company’s experience in Kentucky has been a very positive one, and being able to accept wagers from residents of the State only cements this relationship.”

To mark the approval of its Kentucky license, for a limited time WatchandWager is giving a special matching-deposit bonus to Kentucky residents who successfully register and fund a new wagering account. WatchandWager is known throughout the wagering industry as the leader in cash-back bonuses, giving money back to their players instead of “points” for their play.

WatchandWager extends contract to operate Cal Expo Harness Racing

WEBIS HOLDINGS PLC

(“Webis”)

WatchandWager extends contract to operate Cal Expo Harness Racing

The board of Webis Holdings PLC, the Group specializing in pool wagering and racetrack operations, is pleased to announce that its Advanced Deposit Wagering (ADW) business, WatchandWager.com LLC (“WatchandWager”) has extended its contract to operate Cal Expo Harness Racing, the Californian harness racing track based in Sacramento through to 2021. WatchandWager received unanimous approval from the Board of Directors at Cal Expo in Sacramento on 3rd June.

WatchandWager entered into a contract to operate Cal Expo Harness in 2012. Since assuming the operator’s license for Cal Expo, WatchandWager has been pleased with the progress that has been made by the track to date. The contract extension with WatchandWager guarantees that California harness racing fans and horsemen will continue to have a local venue for live Standardbred racing into the next decade.

In addition to supporting live horse racing in California, WatchandWager’s contract to operate Cal Expo Harness is a strategic trade license which enhances the ADW wagering business both in the US domestic market and on the international stage. By operating the only live harness racing track in California, WatchandWager has significant leverage in negotiating wagering contracts and licenses with domestic and international tracks and racing associations.

Ed Comins, President of WatchandWager, believes that the new contract with Cal Expo strengthens the future of both the track and the company.

“We are proud to reach an agreement with the Board of Directors of Cal Expo,” Comins said. “WatchandWager remains committed to the US racing industry by providing live harness racing to fans and supporting California horsemen with revenue from wagering. We look forward to building upon the progress over the next five years of the contract.”

Racing at Cal Expo is scheduled to resume in early October, subject to the normal regulatory approval.

WatchandWager.com LLC extends wagering and streaming contract with French PMU

WatchandWager.com LLC (“WatchandWager”), Webis’s principal US subsidiary, has extended its contract with the French Pari Mutuel Urbain (“PMU”) to provide its wagering customers access to betting directly into the French horseracing pools. The deal also includes video streaming of French racing to WatchandWager customers.

Headquartered in the San Francisco Bay Area, California, WatchandWager conducts US licensed advanced deposit pool wagering through its website, watchandwager.com, and also manages racetrack operations at Cal Expo racetrack, Sacramento, California.

WatchandWager has partnered with the PMU for over two years, but this extension to the end of 2016 is significant in that it renews access to one of the largest global horseracing markets. In 2014, total volume wagered into the PMU pools was Euro 9.16 billion. The PMU are particularly forward thinking in successfully distributing their premium content worldwide.

French horseracing is one of the premier centres of the sport in the world. The quality of the product, coupled with the significant size of the pools, is attractive to international players, for which market liquidity is of a paramount importance. WatchandWager expects a significant impact to turnover through the remainder of 2016 as a result of this contract renewal.

Ed Comins, Managing Director of Webis, said: “It is an honour for WatchandWager to renew its partnership with the PMU and to be able to offer world class racing to our customers. It is particularly good time with the French core thoroughbred season approaching full swing right now, and culminating in the Prix de L’Arc de Triomphe meeting in October. We look forward to promoting French Racing to our international customers throughout this exciting time. “

WatchandWager signs a three year contract with HKJC

Wednesday 13th January, 2016

WEBIS HOLDINGS PLC

(“Webis” or “the Group”)


WatchandWager.com LLC signs a three year contract with
Hong Kong Jockey Club Horse Race Betting Limited

Webis is pleased to announce that its subsidiary, WatchandWager.com LLC (“WatchandWager”), has signed a further three year contract with the Hong Kong Jockey Club Horse Race Betting Limited, a wholly owned subsidiary of the Hong Kong Jockey Club (“HKJC”), to provide access to the HKJC pari-mutuel pools. Headquartered in San Francisco, California, WatchandWager conducts US licensed advanced deposit pool wagering and racetrack operations.

WatchandWager was the first US based wagering operator to link directly into the HKJC pools during the 2013/14 racing season, and has continued as a partner this season. The operation has proved to be a success both technically and commercially for both parties and the new contract extends to the end of the 2017/18 racing season. As recently reported, the connection to HKJC races was a significant factor in the continued growth in turnover of the WatchandWager operation.

Known for its massive wagering pools and elite level of racing, the HKJC is regarded as one of the premier centers of horse racing in the world. The 131-year-old HKJC had a record handle during 2014-15, with US$13.93 billion being wagered on races at Sha Tin Racecourse and Happy Valley Racecourse last season. The HKJC is especially popular among international horseplayers, who wagered US$340 million into the HKJC pools during the same period, with WatchandWager contributing significantly to that amount. “This is a groundbreaking deal that looks set to significantly improve WatchandWager’s performance long term as well as likely increase the growth of international money into the HKJC,” said Ed Comins, Managing Director of Webis. “It is an honour for WatchandWager to renew its partnership with the HKJC and to be able to offer world class racing to our customers. It is also a testament to our level of compliance and reliability in the regulated US market that we were approved for this extension. ”

WatchandWager.com granted ADW license in Washington State

Monday 17th August, 2015

WEBIS HOLDINGS PLC

(“Webis” or “the Group”)


WatchandWager.com granted ADW license in Washington State

Webis Holdings PLC, the Group specialising in regulated pool wagering and the operators of Cal Expo, the Californian harness track, is pleased to announce that San Francisco-based WatchandWager.com LLC (“WatchandWager”) has been granted an Advanced Deposit Wagering (“ADW”) license by the Washington Horse Racing Commission (“WHRC”). ADW is regulated online betting into pari-mutuel markets in the USA and internationally.

The WHRC license permits WatchandWager to accept on-line pari-mutuel wagers on horse racing from Washington State residents with immediate effect. The approval is significant because the State’s ADW market continues to grow at a steady pace. In its most recent annual report issued in February 2015, the WHRC indicated that residents wagered US$ 61.7 million in 2014, a growth of 20% on prior year. The population has grown to over 7 million, which is an increase of over 300,000 since 2010. With approximately 77% of the current population of legal age to place a wager, the license, one of only five, potentially expands WatchandWager’s market by an additional 5.4 million people.

As required by the WHRC, WatchandWager has lodged a Surety Bond to the State to protect player balances and has agreed to pay source market fees to Emerald Downs, the State’s only thoroughbred racetrack, located in Auburn. Source market fees are reinvested in the racing industry in the form of purses for horsemen and revenue to racetracks.

Ed Comins, President of WatchandWager, said that the Washington State ADW license is another milestone in the continued growth of the company:-

“We are excited to add Washington State to WatchandWager’s growing list of states where we can accept wagers,” Comins said. “The fact that it is a State with an increasing population and a rapidly-expanding ADW market makes it an excellent business opportunity for WatchandWager. We look forward to providing residents with the best racing and content available, while supporting the State’s racing industry through fees paid to racing associations, horsemen’s groups, and the WHRC.”

W&W/NYRA Triple Crown Bid

WEBIS HOLDINGS PLC

(“Webis” or “the Group”)


WatchandWager teams up with New York Racing Association for American Pharoah’s Triple Crown Bid

The Board of Webis Holdings Plc are pleased to announce that its subsidiary, WatchandWager.com LLC (“WatchandWager”), has renewed its Simulcast Wagering and Video Streaming Agreement with the New York Racing Association (“NYRA”) to allow wagering from WatchandWager customers on all the racetracks operated by NYRA. Headquartered in San Francisco, California, WatchandWager conducts US licensed advanced deposit pool wagering and racetrack operations.

This contract was signed this week, and then in accordance with New York statute, was formally approved to go live by the New York State Gaming Commission effective 4th June, allowing live wagering to continue seamlessly for this Saturday’s Belmont Stakes, which features the Triple Crown attempt by American Pharoah on 6th June at Belmont Park itself.

The agreement is an auto-renewable evergreen extension contract and also covers the rights to video streaming of the races as well as pari-mutuel wagering rights. The contract includes three of the United States’ most prestigious tracks located in New York state, namely Aqueduct, Belmont, and Saratoga, plus several others.

The contract is significant in that it reaffirms the strong business relationship between WatchandWager and NYRA, in a period where NYRA are focused on only selecting significant USA based licensed distributors, such as WatchandWager. The rolling annual renewal, which will automatically renew when the current contract expires, exemplifies the confidence that NYRA has in WatchandWager, and its reputation for compliance as a secure and dependable distributor of its racing product.

Ed Comins, President of WatchandWager.com LLC, said: “We are proud to be selected to take the NYRA signal and are delighted to be able to offer the Belmont Stakes to WatchandWager customers. Like so many racing fans, we are excited about the possibility of American Pharoah winning the Triple Crown and we are glad that WatchandWager is able to share this historic event with our customers. We look forward to Saturday’s historic events, as well as growing our business relationship with NYRA over the coming year.”

Directorate Change

WEBIS HOLDINGS PLC
(“Webis” or the “Group”)

Board Appointment

The board of Webis is pleased to announce the proposed appointment of Nigel Caine as a Non-Executive Director. Nigel’s appointment is subject to approval by the Isle of Man Gambling Supervision Commission; such approval is expected shortly.

Nigel is currently the Chief Financial Officer for Burnbrae Group Limited. He is a Fellow of the Institute of Chartered Certified Accountants and a Member of both the Chartered Institute of Securities and Investments and the Institute of Chartered Secretaries and Administrators. He also holds an MBA from the University of Wales. Nigel began his career in audit and transaction services with KPMG and Deloitte. Before joining Burnbrae Group Limited in 2014, Nigel was the Chief Financial Officer for Speymill Deutsche Immobilien Company Plc.

Nigel David Caine (45) has held the following directorships and/or partnerships in the past five years:

Current: Past:
Burnbrae Group Limited
Burnbrae Limited
Sleepwell Aviation Limited
Technical Facilities & Services Limited
B.E. Global Services Limited
Betinternet.com (IOM) Limited
WatchandWager.com Limited
Speymill Property Group Limited
There is no further information on Nigel Caine to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for the Companies.

Directorate Change

WEBIS HOLDINGS PLC

(“Webis” or the “Group”)

Board Changes



The board of Webis announce that by mutual agreement, Garry Knowles will step down as Group Managing Director and terminate his employment with effect from 30 April 2015.

The board would like to take this opportunity to thank Garry for his considerable contribution to the Group over the last ten years.

Ed Comins, Group Director and President of WatchandWager.com LLC (“W&W”), has been appointed as Group Managing Director with immediate effect.

W&W provides pari-mutuel wagering through distribution channels to a global client base. Currently, the company’s operations are fully licenced with a number of prestigious racetrack partners within the United States, Hong Kong, Canada, United Kingdom, Ireland, Australia and France, together with the Cal Expo Harness Racetrack operation in Sacramento, California; the latter licenced by the California Horse Racing Board. The board believe that a sole focus on developing and expanding upon W&W’s already impressive achievements is in the best interests of the Group.

Operations Reorganisation

Following the recent review on the future of the Group’s Sportsbook operations, the board has come to the conclusion that, in the light of the opportunities available to the US pari-mutuel division, continuing to support the fixed-odds division is no longer a viable strategy. The on-going development of jurisdictional protectionism for fixed-odds operations by either prohibition or onerous regulatory and levy requirements means that betinternet.com has little chance of maintaining further profitability as operational expenses increase.

As a result, the Group will close its fixed-odds betting and games operation, betinternet.com Limited, (the “Sportsbook”) with effect from 5 March 2015 to concentrate solely on the development of WatchandWager LLC (“W&W”) from its operational base in San Francisco, California.

W&W provides pari-mutuel wagering through distribution channels to a global client base. Currently, the company’s operations are fully licenced with a number of prestigious racetrack partners within the United States, Hong Kong, Canada, United Kingdom, Ireland, Australia and France, together with the Cal Expo Harness Racetrack operation in Sacramento, California; the latter licenced by the California Horse Racing Board. The board believe that a sole focus on developing and expanding upon W&W’s already impressive achievements is in the best interests of the Group.

The board discussed the Sportsbook’s disposal as a going concern with several interested parties, but unfortunately these discussions did not lead to any firm offers and accordingly the decision to close was the only viable option.

In the Full Year ending 31 May 2014, US$0.2 million of the Group’s Total Comprehensive Income was attributable to the Sportsbook. In the recently released Interim Report covering the six month period to 30 November 2014, US$1.23 million of the Group’s Gross Assets were attributable to the Sportsbook. It is anticipated that the cost to the Group of the closure will be in the region of US$0.3 million.

As required under Isle of Man licence conditions, betinternet.com will repay outstanding client balances, secured in segregated bank accounts, with immediate effect.